MARY KAY RECOGNIZED FOR PRODUCT INNOVATION, CORPORATE STEWARDSHIP AND WORKPLACE EXCELLENCE IN ASIA PACIFIC MARKETS

^{KK Chua, President of Mary Kay’s Asia Pacific Region (Photo: Mary Kay Inc.)}


Top Beauty Brand Honored with nearly 30 Product and Industry Awards

DALLAS, Oct 31 (Bernama-BUSINESS WIRE) -- Today, Mary Kay Inc. announced it has received nearly 30 awards for product innovation, corporate stewardship and workplace excellence in its Asia Pacific markets from 2018 to 2019. As one of the world’s leading direct sellers of skincare and color cosmetics, the awards recognize Mary Kay in a variety of categories across the Asia Pacific region.

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“It is an honor to receive these prestigious product and industry awards throughout Mary Kay’s Asia Pacific markets within a one-year timeframe,” said KK Chua, President of Mary Kay’s Asia Pacific Region. “On a global scale, Mary Kay is consistently recognized for our company’s relentless pursuit to provide an unparalleled business opportunity, cutting-edge products and an unwavering commitment to make the world a better place. We share these esteemed accolades with our corporate employees, independent beauty consultants and loyal Mary Kay fans.”

The 2018-19 Asia Pacific awards include:

Product Awards

China

• ELLE China’s 2019 Cosmetic Star for Youthfinity^® Serum
• ELLE China’s 2019 Cosmetic Star Beauty Secret for LumiVie^TM Intensive Serum
• Cosmopolitan’s 2019 Technology Breakthrough Award for TimeWise 5X^TM Series
• Cosmo Beauty Award 2019 Expert Recommendation for Youthfinity^® Facial Oil
• InStyle’s Star of Tomorrow Award, Beauty Disrupters 2019 for TimeWise Vitamin C Squares^®
• Excellent Product 2019 Award by China International Expo for Mary Kay Antioxidants
• China Reassuring 2018 Award for TimeWise 5X^TM Series by jiemian.com

Malaysia

• Car and Gadget Award 2019, Mary Kay Skinvigorate^TM Cleansing Brush, Female Magazine
• Best Day Cream, Mary Kay® TimeWise^® Age Minimize 3D^® Day Cream SPF 30 Broad Spectrum Sunscreen, EH Magazine
• GOLD Award in the Best B2B Event: Conferences / Meetings / Seminar in The Marketing Events Awards 2019 by Marketing Magazine.

Cosmetics Ranking

• Top 3 Color Cosmetics Brand* in Malaysia by Euromonitor International Limited
  *Beauty and Personal Care 2019ed, retail value sales RSP, 2018 data

Technology

• DSA Empowerment Award 2019 for Skin Analyzer tool that empowered the sales force to succeed in Australia

Environment

China

• Leadership in Energy and Environmental Design (LEED) 2018 Gold Medal by the US Green Building Council
• Sustainable Development Outstanding Contribution Award in 2018 by Shanghai Daily
• Advanced Environmental Protection Unit 2018 Award by the district government

Corporate Social Responsibility

• Caring Company for 7 consecutive years by The Hong Kong Council of Social Service
• Chinese Corporate Citizenship Top 50 Brands 2018 by the Corporate Citizenship Committee of China Association of Social Workers
• Best CSR Brand and Best CSR Strategy Award by the CSR China Education Awards in 2019
• Excellent Corporate Social Responsibility 2018 Report by King Bee in China
• TOGETHER 2018 Southern Weekend Annual Responsibility Contribution Award by Southern Weekend in China
• Youth Daily Excellent Public Welfare Partner by China Youth Daily in 2018
• Activists Alliance 2018 Public Welfare Ceremony Top 10 Public Welfare Enterprises Award by news.ifeng.com in China

Workplace Excellence

• Family-friendly Employer by Home Affairs Bureau in 2018 in Hong Kong
• Chinese Enterprise Health Management Top 10 Employers in 2018 by China International Intellectech Corporation
• 2018 IAI International Advertising Award by the 18^th IAI International Advertising Festival in China
• 2018 Advertiser Award Annual Gold Case Award by the 25^th China International Advertising Festival
• Outstanding Partnership Award by Junior Achievement China

Women Empowerment

• Mary Kay China was nominated for the Best Female Executive Company by SHERO in 2018

Mary Kay Inc. was also recognized in the 2019 Global Workplace 100 study by Reputation Institute (Ri) as one of the world’s most reputable employers. Ri named Mary Kay Inc. number 42 among the top 100 global companies on its list. Researchers ranked companies based on professional development, total rewards, work environment, market leadership, products and responsibility. For more information about the global workplace reputation study, click here.

About Mary Kay

One of the original glass ceiling breakers, Mary Kay Ash founded her beauty company more than 55 years ago with three goals: develop rewarding opportunities for women, offer irresistible products, and make the world a better place. That dream has blossomed into a multibillion-dollar company with millions of independent sales force members in nearly 40 countries. Mary Kay is dedicated to investing in the science behind beauty and to manufacturing cutting-edge skin care, color cosmetics, fragrances and nutritional supplements. Mary Kay is committed to empowering women and their families by partnering with organizations from around the world, focusing on supporting cancer research, protecting survivors from domestic abuse, beautifying our communities, and encouraging children to follow their dreams. Mary Kay Ash’s original vision continues to shine—one lipstick at a time.

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Contact

Mary Kay Inc. Corporate Communications
marykay.com/newsroom
972.687.5332 or media@mkcorp.com

Source : Mary Kay Inc.

´myVault´ offers remittance transfers to Timor-Leste unbanked population

KUALA LUMPUR, Oct 29 -- VaultID Group Ltd has created a financial and digital footprint for the ‘unbanked’ population via its application ‘myVault’, allowing remittance transfers to Timor-Leste.

The application enables the onboarding of potential consumers via a mix of traditional KYC/AML systems, enhanced with biometric image to document scanning and in-government official witness attestation.

Approximately one-third of the Timor-Leste population, currently excluded from participation due to lack of identification, can now be onboarded to allow seamless, verification remittance transfers.

This will be powered by ‘myVault’ biometric and witness attestation verification products which include facial matching and optical character recognition biometrics.

VaultID Group Ltd chief executive officer, Jason Edwards said: “Through ‘myVault’, we have extended traditional KYC to a new eKYC offering which includes Self-Sovereign Identity; the consumer has control, sole ownership and management of their digital identity as well as how their data is stored, shared or used for verification.

“With accurate consumer details, official attestation, biometric matching and traditional documentation, myVault is a new paradigm in APAC consumer onboarding for financial service providers.”

-- BERNAMA

SoftBank funding completion: WeWork Board, governance changes become effective

KUALA LUMPUR, Oct 31 -- The We Company (WeWork) and SoftBank Group Corp (SoftBank) have announced that WeWork has received US$1.5 billion in funding, which was an acceleration of the existing payment obligation, approved by WeWork’s shareholders at US$11.60 per share. (US$1 = RM4.18)

In connection with the completion of the US$1.5 billion funding from SoftBank, several governance changes have been effective, including the reconstitution of the WeWork Board of Directors.

“The US$1.5 billion in funding that WeWork received today from SoftBank, positions the Company for the future and underlines Softbank’s steadfast belief in the business,” said WeWork Board of Directors executive chairman, Marcelo Claure.

The Board of WeWork has been reconstituted to include 10 members, initially consisting of five directors designated by either SoftBank or SoftBank Vision Fund; two directors designated by existing investors Benchmark Capital and Hony Capital; two directors not affiliated with WeWork; and, one director from the Special Committee of the Board.

Other governance changes that were effective include Claure’s appointment as Executive Chairman of the Board while Adam Neumann has become a Board observer.

-- BERNAMA

BEST'S SPECIAL REPORT: FAVORABLE DEMOGRAPHICS AND DEVELOPMENT BOOST ECONOMIC GROWTH IN ASEAN REGION

OLDWICK, N.J., Oct 31 (Bernama-BUSINESS WIRE) -- The development of insurance markets in the member states of the Association of Southeast Asian Nations (ASEAN) has gone hand in hand with these countries’ economic growth and significant potential for future growth remains, according to a new AM Best report.

A new Best’s Special Report, titled, “ASEAN—Favorable Demographics and Development Boost Economic Growth,” states that economic development in the region has led to an increase in premium growth, and the momentum likely is to continue. Between 2008 and 2018, ASEAN total GDP, as a percentage of the world’s GDP, increased to 3.4% from 2.5%, and it is expected to grow to 3.8% by 2023. ASEAN has 10 member countries; however, the five largest economies among the 10 members—Indonesia, Malaysia, the Philippines, Singapore and Thailand—contribute 88% of ASEAN's total GDP. Current trade uncertainty has been a headwind to growth, but accommodative monetary and fiscal policies have been able to mitigate the slowdown partially.

Cambodia, Laos, Myanmar and Vietnam—ASEAN’s frontier markets—have been among the fastest-growing economies in the world. (Brunei is the 10th ASEAN member.) Favorable demographic trends in the region have helped to fuel the expansion. The trade conflict between the United States and China has the potential to be disruptive to the region, but may also provide an upside, as global manufacturers look to mitigate some uncertainty and diversify their production chains to countries other than China.

ASEAN’s total premiums were USD 92.1 billion in 2017, according to industry reports, compared with USD 15.8 billion in 1997. However, despite this growth, insurance penetration in the region remains low. In 2017, the average insurance penetration for the region was 3.6%, with the highest rate in Singapore (8.6%). While this represents a significant gap in insurance protection, it also highlights the significant opportunities for development in the future. Continuing economic and financial sector growths will help the insurance industry grow correspondingly.

AM Best’s country risk tiers for the 10 ASEAN countries range from CRT-1 (Singapore) to CRT-5 (Cambodia, Laos and Myanmar). Overall, insurers operating in the ASEAN region face differing levels of economic, political and financial system risks, all of which are key components of AM Best’s country risk analysis. AM Best evaluates and incorporates country risk into all of its credit ratings; as country risk increases, the distribution of ratings tends to migrate down the rating scale.

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=291232.

AM Best is a global credit rating agency and information provider with an exclusive focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Ann Modica
Associate Director, Credit Rating
Criteria, Research and Analytics
+1 908 439 2200, ext. 5209
ann.modica@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Source : AM Best

Endace-Network Critical partnership provides deeper insight into network traffic

KUALA LUMPUR, Oct 23 -- Endace, a world leader in high-speed network recording, playback and analytics hosting announced that Network Critical has joined the Endace Fusion Partner Program.

Both companies are set to provide deeper insight into network traffic, according to a statement.

“Network Critical’s solutions are a great complement to our EndaceProbe platform. They give customers powerful, precise control over how traffic is directed on the network, and make changing configurations and managing highly scaled, multi-appliance architecture simple,” said Endace Business Development Director, Michael Morris.

The partnership brings together the EndaceProbe™ Analytics Platform and Network Critical’s SmartNA PortPlus™ Packet Brokers, to combine maximum deployment flexibility and streamlined, scale-out expansion capabilities with simple management.

Users can even develop and implement new filters and port maps in minutes, further simplifying and accelerating deployment and configuration processes.

By combining Network Critical TAPs and packet brokers with EndaceProbes, customers can direct traffic to EndaceProbes for recording to disk and streaming to security analytics solutions hosted in the EndaceProbe’s Application Dock™ hosting environment.

More information at https://www.endace.com.

-- BERNAMA

Virgin Galactic Holdings takes off with Virgin Galactic-Social Capital Hedosophia merger

KUALA LUMPUR, Oct 29 -- Virgin Galactic (VG), a vertically integrated aerospace company and Social Capital Hedosophia (SCH), a public investment vehicle have completed their business combination.

The resulting company is named Virgin Galactic Holdings Inc (VGH). Its common stock, units and warrants commenced trading on the New York Stock Exchange under the new ticker symbol ‘SPCE’, ‘SPCE.U’ and ‘SPCE WS’, respectively, on Oct 28.

“I am proud of the strong flow of customer deposits and interest we have earned to date, and look forward to making the dream of spaceflight come true for our amazing astronaut customers,” said VGH chief executive officer, George Whitesides.

The Company manufactures its space vehicles in Mojave, California, through its aerospace development subsidiary, The Spaceship Company, with commercial operations centered at Spaceport America in New Mexico.

The completion of this merger, and trading as a public company are the next milestones on the path towards building a thriving commercial service business and investing appropriately for the future, according to a statement.

As a result of this transaction, VG has received over US$450 million of primary proceeds and as at market close on Oct 25, the business has a market capitalisation of US$2.3 billion. (US$1 = RM4.18)

The Company’s board of directors consists of Chamath Palihapitiya (chairman); Adam Bain and James Ryans (SCH directors) as well as Wanda Austin, Craig Kreeger, George Mattson, Evan Lovell and George Whitesides.

-- BERNAMA

Moody´s to buy minority stake in SynTao Green Finance

KUALA LUMPUR, Oct 29-- Moody’s Corporation will acquire a minority stake in SynTao Green Finance (STGF), a leading provider of environmental, social and governance (ESG) data and analytics based in and serving China.

STGF provides ESG data and ratings, green bond verification and green finance solutions to financial institutions and corporates in China. It also provides thought leadership on ESG to policy makers.

The investment in STGF aligns with Moody’s ongoing global commitment to promoting transparent standards for evaluating ESG risks. Locally, the investment strengthens Moody’s presence and engagement in China and its financial markets.

The deal complements Moody’s recent acquisitions of Vigeo Eiris, a leading global provider of ESG research, data and assessments, and Four Twenty Seven Inc, a leader in climate data and risk analysis.

The terms of the transaction were not disclosed and it will not have a material impact on Moody’s 2019 financial results. The transaction is expected to close by early next month.

Moody's is a?n e?sse?ntial component of the global capital m?arket?s, providing credit ratings, research, tools and analysis that c?ontribute to transparent and integrated financial markets. More information at https://www.moodys.com.

-- BERNAMA

SmartStream introduces AI module for missed payments, receipts

KUALA LUMPUR, Oct 29 -- SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider has introduced a new artificial intelligence (AI) module to capture missed payments and receipts.

The company has completed a proof of concept for an AI and machine learning module within its existing TLM Cash and Liquidity Management solution which is essential for any business in terms of liquidity risk and regulatory reporting.

The next phase of the solution’s development is about predicting the settlement of cash-flows, whereby SmartStream has been working on a proof of concept with its clients for profiling and predicted intraday settlement activity.

Cash management teams will gain greater visibility into the payment process and manage liquidity risk more efficiently, minimising the potential of payments being missed, according to a statement.

The new TLM Cash and Liquidity Management, AI and machine learning module is an important development for any financial institution with a treasury department, with its ability to predict when credit is going to arrive; giving the treasurer more control over cash flows.

The core of the module is underpinned by sophisticated machine learning technology that continuously improves, meaning the predictions become more accurate and treasurers can make more informed decisions.

-- BERNAMA

Singapore Re has stable credit ratings outlook - AM Best

KUALA LUMPUR, Oct 29 (-- The credit ratings outlook of Singapore Reinsurance Corporation Limited (Singapore Re) Singapore is stable, says AM Best.

This follows the agency’s affirmation, giving the Financial Strength Rating of A- (excellent) and Long-Term Issuer Credit Rating of ‘a-’ of the company.

The ratings reflect Singapore Re’s balance sheet strength, which AM Best categorised as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Singapore Re’s balance sheet strength assessment is underpinned by risk-adjusted capitalisation that remains at the strongest level, as measured by Best’s Capital Adequacy Ratio.

Despite an elevated dividend payout ratio over the past five years, retained earnings have remained sufficient to support new business growth.

Other balance sheet factors include the company’s moderate risk investment strategy, and high usage of and dependence on retrocession to manage exposure to catastrophe events, accumulations and large single risks.

AM Best views Singapore Re’s operating performance to be adequate, with the company having reported a five-year average return on equity ratio of 4.9 per cent (2014-2018).

The agency also views the company’s business profile as neutral. Singapore Re is a regional non-life reinsurer, with a modest-sized gross written premium base of SGD 208 million (US$193 million) last year. (US$1 = RM4.18)

More details on the credit ratings at www.ambest.com

-- BERNAMA

Singapore's Endowus unveils online investment platform, first CPFIS investment offerings

KUALA LUMPUR, Oct 29 -- Endowus, the first end-to-end digital adviser for investment with CPF savings has unveiled its proprietary online investment platform and first CPFIS investment offerings.

The announcement follows the inclusion of Endowus partner broker, UOB Kay Hian, as a CPF Investment Scheme (CPFIS) Investment Administrator, the first to be newly included in the last 14 years.

The Endowus platform has unique elements as everything can be done online via mobile or desktop. Endowus bridges both public and private savings on a centralised investment and advisory platform.

Clients can receive advice and invest holistically and seamlessly on the platform across all three sources of funds, increasing investment efficiency and maximising the probability of success in reaching their investment and retirement goals.

The company will also rebate 100 per cent of trailer fees (or commissions) to client CPF Investment Accounts, reducing net fees paid by CPF members to a fraction of current norms.

Endowus’ CPFIS advised portfolios allows geographic, asset class and manager diversification in efficient, low cost, core portfolios focused on strategic asset allocation as it has partnered with the largest local and major global fund management companies.

Endowus will continue to improve its portfolios to enhance the outcome for all CPF members with effort including its success in bringing the first passive, low-cost S&P 500 US Equity unit trust fund onto the list of CPFIS-included funds with Vanguard & Lion Global.

Endowus is a Singapore-based investment advisory platform that enables people to efficiently invest their CPF, SRS and cash savings at the lowest cost achievable. More information at https://endowus.com.

-- BERNAMA